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HomeMy WebLinkAbout19-1557 10-08-2019 RESOLUTION NO. 19-1557 A RESOLUTION APPROVING AND AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION IN AN AMOUNT NOT TO EXCEED $7,500,000 FOR PUBLIC IMPROVEMENTS TO FIRE DEPARTMENT FACILITIES. WHEREAS, the City Council (the "City Council") of the City of Euless, Texas (the "City"), has determined that certificates of obligation should be issued under and pursuant to the provisions of Subchapter C of Chapter 271 of the Texas Local Government Code, as amended (the "Act"), for the purpose of paying contractual obligations to be incurred for (i) the construction of public works; and/or, (ii) the purchase of materials, supplies, equipment, machinery, land, and rights-of-way for authorized needs and purposes; and/or (iii) for professional services, all as specified below; and WHEREAS, prior to the issuance of such certificates, the City Council is required to publish notice of its intention to issue the same in a newspaper of general circulation in the City in accordance with the provisions of the Act. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS, THAT: SECTION 1. The City Secretary is hereby authorized and directed to cause notice to be published of the City Council's intention to issue certificates of obligation in one or more series in a principal amount not to exceed $7,500,000, for the purpose of paying contractual obligations to be incurred for (i) the construction of public works, to wit: acquiring, designing, constructing, improving, expanding and equipping one or more fire stations (including the demolition of existing Fire Station #1); and (ii) professional services rendered in relation to such projects and the financing thereof; such certificate to be payable from ad valorem taxes and a limited pledge of the net revenues derived from the operation of the City's combined Waterworks and Sewer System. The notice hereby approved and authorized to be published shall read substantially in the form and content of Exhibit A hereto attached and incorporated herein by reference as a part of this resolution for all purposes. SECTION 2. The City Secretary shall cause the aforesaid notice to be published (i) in a newspaper of general circulation in the City, once a week for two consecutive weeks, the date of the first publication to be at least forty-six (46) days prior to the date stated therein for the passage of the ordinance authorizing the issuance of the certificates of obligation and (ii) continuously on the City's website for at least forty-five (45) days before the date stated therein for the passage of the ordinance authorizing the issuance of the certificate of obligation. APPROVED AND ADOPTED at a regular meeting of the Euless City Council on October 8, 2019, by a vote of 6 ayes, 0 nays, and 0 abstentions. APPROVED: r j Linda Martin, Mayor ATTEST: Kim Sutter, TRMC, CMC, City Secretary Resolution No. 19-1557, Page 2 of 3 EXHIBIT A NOTICE OF INTENTION TO ISSUE CITY OF EULESS, TEXAS TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2019A TAKE NOTICE that the City Council of the City of Euless, Texas, shall convene at 7:00 o'clock P.M. on the 10t' day of December, 2019, at its regular meeting place in the City Hall located at 201 N. Ector Dr., Euless, Texas, and, during such meeting, the City Council will consider the passage of an ordinance authorizing the issuance of certificates of obligation, in one or more series, in a principal amount not to exceed SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($7,500,000), for the purpose of paying contractual obligations to be incurred for (i) the construction of public works, to wit: acquiring, designing, constructing, improving, expanding and equipping one or more fire stations (including the demolition of existing Fire Station #1); and (ii) professional services rendered in relation to such projects and the financing thereof; such certificates to be payable from ad valorem taxes and a limited pledge of the net revenues of the City's water and sewer system. In accordance with Texas Local Government Code Section 271.049, (i) the current principal amount of all of the City's outstanding public securities secured by and payable from ad valorem taxes is $59,300,000; (ii) the current combined principal and interest required to pay all of the City's outstanding public securities secured by and payable from ad valorem taxes on time and in full is $77,944,856; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $10,365,820; (iv) the maximum interest rate for the certificates may not exceed the maximum legal interest rate; and (v) the maximum maturity date of the certificates to be authorized is February 15, 2044. The certificates are to be issued, and this notice is given, under and pursuant to the provisions of Texas Local Government Code, Subchapter C of Chapter 271, as amended. Kim Sutter, City Secretary City of Euless, Texas Resolution No. 19-1557, Page 3 of 3 Star-Telegram : MEDIA Arlington Citizen-Journal I The Keller Citizen I La Estrella Mansfield News-Mirror I Star-Telegr Northeast I Weatherford Star star-telegram.com 1808 Throckmorton St.I Ft Worth,Tx.78102 OCT 2 c 2019 - AFFIDAVIT OF PUBLICATIO C TY 'OF EULESS Account N Ad Number Identification p 600565 0004415128 NOTICE OF INTENTION TO ISSUE CITY OF E J TO ISSUE CITY OF EULESS, $54.68 1 69.00 Li Attention: Lindsay Wells THE STATE OF TEXAS CITY OF EULESS County of Tarrant 201 N ECTOR DR EULESS, TX 760393543 Before me. a Notary Public in and for said County and State,this day --- ----- - ------ personally appeared VICTORIA NOTIICE OF INTENTION TO ISSUE C TY OF EULESS,TEXAS 9 RODELA, Bid and Legal Coordinator TAX AND REVENUE CERTIFI- NOTICE OF INTENTION TO I for the Star-Telegram,published by CATES OF OBLIGATION, ISSUE CITY OF EULESS,TEXAS SERIES 2019A TAX AND REVENUE CERTIFI- the Star-Telegram, Inc. at Fort Worth, TAKE NOTICE that the City Council CATES OF OBLIGATION, I g of the City of Euless, Texas, SERIES 2019A in Tarrant County,Texas;and who, shall convene at 7:00 o'clock TAKE NOTICE that the City Council after being duly Sworn, did depose P.M.on the loth day of Decem- of the City of Euless, Texas, place in t ber, in the e City Hall located at its regular meeting shall convene at 7:00 o'clock and say that the attached clipping of th P.M. on e loth da 201 N. Ector Dr.,Euless, Texas, y of Decem- and, during such meeting, the I ber,2019,at its regular meeting an advertisement was published in City Council will consider the place in the City Hall located at passage of an ordinance author- 201 N. Ector Dr.,Euless,Texas, the above named paper on the listed izing the issuance of certifi- and, during such meeting, the dates: cates of obligation, in one or City Council will consider the more series, in a principal passage of an ordinance author- amount not to exceed SEVEN izing the issuance of certifi- MILLION FIVE HUNDRED THOU- cates of obligation, in one or SAND DOLLARS ($7,500,000), more series, in a principal for the purpose of paying con- amount not to exceed SEVEN tractual obligations to be incur- MILLION FIVE HUNDRED THOU- 2 Insertion(s) red for (i) the construction of SAND DOLLARS ($7,500,000), public works, to wit: acquiring, for the purpose of paying con- designing,constructing,improv- tractual obligations to be incur- Published On: ing, expanding and equipping red for (i) the construction of one or more fire stations On- public works, to wit: acquiring, October 10,2019,October 17,2019 cluding the demolition of exist- designing,constructing,improv- ing Fire Station 1k1);and(ii)pro- ing, expanding and equipping fessional services rendered in one or more fire stations (in- relation to such projects and the cluding the demolition of exist- financing thereof; such certifi cates to be payable from ad ing Fire Station jkl);and(ii)pro- valorem taxes and a limited fessional services rendered in pledge of the net revenues of relation to such projects and the the City's water and sewer sys- financing thereof; such certifi- tem. In accordance with Texas cates to be payable from ad Local Government Code Section valorem taxes and a limited 271.049,0)the current principal pledge of the net revenues of amount of all of the City's out- the City's water and sewer sys- standing public securities se- tem. In accordance with Texas cured by and payable from ad Local Government Code Section valorem taxes is $59,300,000; 271.049,(i)the current principal (ii)tha current combined princi- amount of all of the City's out- pal and interest required to pay standing public securities Be- all of the City's outstanding cured by and payable from ad �j /r public securities secured by and valorem taxes is $59,300,000; ��� /_ L payable from ad valorem taxes 00 the current combined princi- on time and in full is pal and interest required to pay $77,944,856;(iii) the estimated all of the City's outstanding I (Principal Clerk) combined principal and interest public securities secured by and required to pay the certificates payable from ad valorem taxes of obligation to be authorized on I SUBSCRIBED AND SWORN TO time and in full is $10,365,820; on time and in full is (iv) the maximum interest rate $77,944,856; (iii) the estimated BEFORE ME,THIS 17th day of for the certificates may not ex- combined principal and interest teed the maximum legal inter- required to pay the certificates Octo in the year of 19 est rate; and (v) the maximum of obligation to be authorized on maturity date of the certificates time and in full is $10,365,820; to be authorized is February 15, (iv) the maximum interest rate 2044. The certificates are to be for the certificates may not ex- issued,and this notice is given, teed the maximum legal inter- under and pursuant to the provi- est rate; and (v) the maximum sions of Texas Local Govern- maturity date of the certificates ment Code, Subchapter C of to be authorized is February 15, Chapter 271,as amended. 2044. The certificates are to be NOta Public- Kim Sutter,City Secretary,City of issued, and this notice is given, Euless,Texas under and pursuant to the provi- sions of Texas Local Govern- �`"'I'a<c: AMBAR LIE32 ment Code, Subchapter C of :' ' Chapter 271,as amended. =* *= My Notary ID 291 Kim Sutter,City Secretary,City of ;ate.• :e= Euless,Texas "LEI I Expires Ma3 Extra charge for lost or duplicate affidavits. Legal document please do not destroy!